Doorstop interview, Canberra

REPORTER:

[Inaudible] How much is the GP backflip – the GP co-payment backflip going to cost?

TREASURER:

Well, the total cost over four years was a little less than a billion dollars but we’ve obviously listened to the medical community. We are going to continue to work closely with the medical community. But it’s vitally important that we continue on the path of repairing the Budget; of getting to the point where we as a nation live within our means and when the IGR is released in the next few days, you’ll see we’ve made a lot of progress, which is terrific. We’ve still got much to do.

REPORTER:

[Inaudible] Budget impact over the forward estimates?

TREASURER:

Of course it does, yes, of course it does. And the thing is, Labor doesn't understand that, you know, when they knock off savings measures, it does have a negative impact on the Budget. Yesterday, they announced a new initiative in multinational taxation. Everyone has panned it because it’s not credible; it doesn't stack up, like so much of what they did in taxation, it doesn’t stack up. These sorts of agreements actually are real because they ensure that we can get the information that delivers integrity in the taxation system. Whether you’re an individual or a company, if you’re trying to hide money in Switzerland, we will catch you.